Living: Warsaw Build-for-Sale Residential Market

At the beginning of 2024, the acceptance of applications for housing loans under the Government programme "Safe Credit 2%" was suspended. The reason was the use of funds allocated for this purpose. In the first months of 2024, sales, deprived of the support of subsidized loans, dropped significantly. In Warsaw, 4,423 apartments were sold in the first quarter of 2024, 14% less than in the previous quarter. 

In the first quarter of 2024, developers in Warsaw launched the sale of 4,341 apartments. This was almost 30% less than in the previous quarter, but due to the simultaneous decline in demand, the total number of apartments on offer (11,261) at the end of the quarter exceeded the offer from the end of 2023 by several dozen apartments.

The new Government announced a new programme in January 2024, which is to replace the "Safe Credit 2%" scheme. Work on the programme is ongoing and it is expected to come into force in the fall of this year. Depending on the final provisions and the effective date of implementation,  both potential buyers and developers will react.